Welcome to BuyAssociation.co.uk

Amanda Lamb talks to BuyAssociation.co.uk

Amanda Lamb talks to BuyAssociation.co.uk

Ahead of the A Place in the Sun Live! exhibition in London next month, BuyAssociation.co.uk Editor Paul Collins managed to catch up with Amanda Lamb

Despite having taken time off in the past year for the birth of her daughter, Amanda Lamb has still been incredibly busy. In between filming on two property TV shows and the food programme Market Kitchen, she is also launching her own range of luggage and still finding the hours to spend plenty of time with her new arrival. I managed to catch up with Amanda for a few minutes to have a chat about the overseas property world ahead of next months A Place in the Sun Live! exhibition.

Confidence returning

It has been a couple of years since we last spoke, and there is no doubt the international property market has changed completely in that time. “It really has been a slow 18 months.” says Amanda. “At times it seemed a bit like the Marie Celeste out there in the market, but we are starting to see a few more pockets of activity as confidence begins to return.

“For a while there people were terrified of what might happen, but buyers are beginning to emerge again as confidence seeps back in. I’ve seen lots of activity in Florida recently, where people are tempted by what they see as a market that is pretty much at the bottom. Add to this the improving exchange rate for Sterling against the Dollar and some people see this as the best time to buy.”

Amanda is sure that the overseas property market has changed significantly in the past 18 month though: “People are far more cautious now than they were previously, and they seem to be more genuinely interested in owning a property overseas rather than trying to make a quick profit. The people in the market at the moment seem to be genuine buyers looking for holiday homes, rather than investors. In addition, people are far better informed about buying property overseas than they ever have been before.”

The global recession also seems to have changed what and where people are buying overseas, according to Amanda. “Safety seems to be the top priority, so buyers are sticking to the markets they know best.”

So what of the ‘emerging markets’ we all heard so much about and where some people lost money ion investments? “There is little doubt they have been hit hard,” says Amanda “but there are signs of some movement in these markets as well. It seems that some wealthier buyers are looking into the old emerging markets now, hoping to pick up properties that have been built but are available for a fraction of their original price. These new speculators are prepared to take a bit of a gamble on these properties in anticipation of prices rising again in the future.”

Buying destinations

Moving away from the emerging markets, Amanda also fronted a TV special about emigrating to Australia in recent months. I wondered if the recession has prompted more people to look into options for a complete life change as the effects of the recession began to be felt last year. “I don’t think the recession has caused many people to emigrate on its own – there have been some small pockets of activity where people have chosen now to fulfill their dream of moving to another country as employment situations have changed to make it the perfect time to make the break from the UK, but these are not the norm. Aside from these people who emigrate because of a specific trigger, the reason more people than ever are moving to the other side of the world is that it is currently easier than it has been for many years. The availability of visas, combined with the wealth of advice to help people find their way through the emigration maze, have made it easier to move than it has been for 20 years or more.”

Returning to the more traditional overseas property destinations, there have recently been continued stories of problems for British property buyers in Spain and Northern Cyprus, to name but two destinations with issues to resolve. What is the one piece of advice Amanda wishes she could make sure every overseas property buyer would heed? “Even though we keep saying it, ALL buyers need to take independent and expert legal advice on any property they are buying overseas. It’s starting to sound like a broken record, but there are still plenty of people who are not doing it and I think anything up to 95 per cent of problems people encounter when buying overseas could be solved if they had taken proper legal advice in the first place. You can also help yourself by asking to see testimonials and references from the agent or developer to make sure they are as good as they say they are, and if you have any doubts at all, pull out before you sign anything. Above all, don’t take the developer’s offer of legal advice from their recommended solicitor.”

Amanda also pointed out that more people are now looking to buy completed properties, rather than off-plan projects which are seen as being a little more risky in present conditions. Buyers really do seem to want to put their money into ‘solid’ property.

This leads us onto discussing the current trend for ‘distressed property’, and the potential advantages for buyers. “There is obviously the price element of buying a distressed property, which could allow you to buy at a substantial discount. Also, as we have mentioned, the property should also be completely built, so you have no worries about a developer not completing the project. On the other hand, you have to make sure the property is a genuine ‘distressed’ price, and not just a marketing ploy to shift it off the market - your independent lawyer can check on the transaction history of the property to make sure you are not paying over the odds. It is also vital to remember that cheap does not automatically equal good – if a property is cheap, there will be a reason, you just need to make sure that reason is because it is a distressed sale and not something else.

Amanda also recently bought her own property overseas, a renovated apartment in the south of Italy. Given the busy year she has had, it seems Amanda and family have had little chance to enjoy their home in the sun. “I can’t wait – we’ve managed to get some time off in May and will be spending three weeks out there. It will be the first time we can spend a decent amount of time out there, so it should finally start to feel like it’s ours!”

A Place in the Sun Live!

Before that of course, there is the small matter of the A Place in the Sun Live! Exhibition at Earl’s Court, where Amanda will be appearing on stage, along with Jasmine Harman and Jonnie Irwin from A Place in the Sun: Home or Away. In addition there will be properties available from all around the world, backed up by expert seminars and panel discussions. To book your FREE tickets, click here.

More pages

Page 1: Amanda Lamb talks to BuyAssociation.co.uk

Holiday home insurance from intasure - Click Here UK insurance for your property overseas

The best villa holidays from James Villas with our hand-picked villas and all the support you need in resort, we're the number one choice

Discounted Airport Parking - available across the UK

www.holidaylettings.co.uk online advertising for home owners abroad

Find your perfect villa rental with Villas4You over 500 villas across 20 destinations

Marbella apartments with 110% finance 50 per cent discount from developer prices, 300m from the beach

The best deals on car hire in the UK, USA, Europe and beyond Alamo has the car you need at the price you want!

Speak to the experts to find your perfect home in El Gouna. Luxury apartments and villas on Egypt’s Red Sea Coast. Life as it should be. www.ancientsandsresort.com